Porsche’s entry into VfB Stuttgart has moved one step closer. The Federal Cartel Office cleared the deal on Tuesday, according to the list of ongoing merger control proceedings. The “Kicker” first reported about it on Friday.
According to a media report, the sports car manufacturer and the Swabian Bundesliga club signed the contract to acquire shares in VfB AG in mid-October. Porsche should buy 5.2 percent worth 20 million euros this year. The same amount should then flow again in 2024 to increase the package to 10.4 percent. In 2017, anchor investor Mercedes paid 41.5 million euros for 11.75 percent.
The entry of Porsche, whose subsidiary MHP acquired the naming rights to the Stuttgart stadium as part of the so-called “global brand alliance”, is not yet perfect. Before graduation there is still the exams of the German Football League (DFL).
UEFA is renaming some venues: the stadiums for the 2024 European Championship in Germany
Olympic Stadium in Berlin (intl. spectators: 70,000)
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